Solar Panel Cost Guide in Parkman, OH (2023 Update)
- Parkman Solar Installation Cost: $13,942
- 25-Year Savings: $12,849
- Payback Period: 13.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Parkman
We break down average solar pricing in Parkman.
In Parkman, solar panels cost about 2.56 per watt on average. To cover the typical energy usage of the average home in Parkman, most homeowners require a 7.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,942, or $19,937 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and your own solar costs may look different based on your specific situation and what company you want to go with. Many homeowners find going solar is a sound investment. The average homeowner in Parkman can save about $13,000 on their power bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Parkman
| Year | Return on Investment |
|---|---|
| 1 years | $-12,870 |
| 3 years | $-10,727 |
| 5 years | $-8,584 |
| 7 years | $-6,440 |
| 9 years | $-4,297 |
| 11 years | $-2,154 |
| 13 years | $-11 |
| 15 years | $2,133 |
| 17 years | $4,276 |
| 19 years | $6,419 |
| 21 years | $8,562 |
| 23 years | $10,706 |
| 25 years | $12,849 |
Top Solar Installers in Parkman
Many homeowners choose to use a solar installation company since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. The expertise that solar installers offer can be useful as well, especially if you aren't sure what type of solar equipment would be right for your home.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Parkman
Factors that Affect Solar Panel Costs in Parkman
For many Parkman homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Parkman, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Parkman, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $2,560 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Parkman, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Parkman, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can play a part in determining the cost. Parkman's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Parkman have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.66 | $11,182 | $9,479 | 13.5 years |
| 8 kW | $2.61 | $14,623 | $12,925 | 13.3 years |
| 10 kW | $2.56 | $17,920 | $16,515 | 13.0 years |
| 12 kW | $2.51 | $21,074 | $20,248 | 12.7 years |
| 14 kW | $2.46 | $24,084 | $24,125 | 12.5 years |
| 16 kW | $2.41 | $26,952 | $28,144 | 12.2 years |
| 18 kW | $2.36 | $29,676 | $32,308 | 12.0 years |
| 20 kW | $2.30 | $32,256 | $36,614 | 11.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Parkman, OH Solar Cost FAQs
How much does it cost to install solar panels in Parkman?
The average cost of solar panels in Parkman is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Parkman?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.